Sygnum, a digital asset technology group with a Swiss banking license and a Singapore asset management licence, has raised $90m in an oversubscribed Series B funding round.
The round was led by Sun Hung Kai & Co. Limited in addition to new and existing strategic investors, including Meta Investments, Animoca Brans, and Wemade.
The round saw Sygnum reach a valuation of $800m on a post-money basis. The company said the capital will accelerate the development of new institutional-grade Web 3.0 offerings, expansion into new global markets and the co-creation and international distribution of products with new strategic investors.
Sygnum provides a fully-regulated suite of integrated digital asset financial products and services, including bank-grade digital asset custody and fiat rails, spot and options trading, cryptocurrency-backed fiat loans, innovative digital asset-focused asset management products, asset tokenisation solutions and B2B banking for regulated financial institutions.
The company said it has experienced strong demand for its integrated portfolio of regulated digital asset products and services. In 2021 Sygnum saw a tenfold year-on-year increase in consolidated gross revenues. In the same period, its client base neared 1,000 financial institutions, banks, corporates and private investors.
Sygnum co-founder and group CEO Mathias Imbach said, “The digital asset economy is rapidly crossing the chasm to mainstream adoption, where investors will demand fully-regulated solutions as they accelerate their exposure. This financing round is a key milestone in our global expansion and in our mission to empower everyone everywhere to own digital assets with complete trust.”
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